Governance proposals and Layer 2 launches give Altcoins a boost

Bullish sentiment rises on September 14th as the price of Bitcoin (BTC) jumped this morning and is now heading for the $ 47,000 level.

The momentum also had a positive impact on altcoins, with a handful of tokens seeing double-digit gains.

The 6 coins with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView show the biggest winners in the past 24 hours Rari Governance Token (RGT), Curve (CRV) and Synthetix Network (SNX).

TMN owners vote on the project’s first DAO proposal

Governance proposals and Layer 2 launches give Altcoins a boost
Governance proposals and Layer 2 launches give Altcoins a boost

The Rari Governance Token is the native asset of Rari Capital, a non-custody decentralized financial protocol (DeFi) that provides users with a way to autonomously exchange crypto assets and generate a return.

According to data from Cointelegraph Markets Pro, market conditions have been favorable for RGT for some time.

The VORTECS ™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements and market activity

VORTECS ™ score (green) vs. RGT price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ score for RGT began to rebound on September 9th and rose to a high of 85 on September 10th, just an hour before the price rose 57% over the next three days. began to rise.

The initial surge in momentum for RGT came after a listing on Coinbase and the second wave of gains on September 13th came after the record He started Vote for your first on-chain DAO proposal.

Curve starts on arbitrum

The Curve DAO token is the native token of the Curve protocol, a decentralized stablecoin exchange that focuses on providing liquidity in the chain using advanced link curves.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for CRV on September 9 ahead of the recent price rally.

VORTECS ™ score (green) vs. CRV price. Source: Cointelegraph Markets Pro

As seen in the graph above, CRV’s VORTECS ™ score climbed in the green on September 9, hitting a high of 75 an hour before rising 42% over the next four days.

The momentum seen for CRV on September 13th was the result of the advertisement that the Curve protocol was published on Ethereum’s Layer 2 scaling solution Arbitrum.

Suggestion for improvement from Synthetix provides buoyancy

Synthetix is ​​a DeFi liquidity protocol that provides derivatives on the Ethereum (ETH) network that provides exposure to a variety of cryptocurrencies and other assets.

According to data from Cointelegraph Markets Pro, market conditions have been favorable for SNX for some time.

VORTECS ™ -Score (green) vs. SNX price. Source: Cointelegraph Markets Pro

As seen in the graph above, SNX’s VORTECS ™ score was in the green last week, peaking at 77 on September 11, about 41 hours before rising 37% the following day.

The increase in the SNX price occurs after publication of the Synthetix Enhancement Proposal 181 (SIP), which deals with simulated liquidity for Synthetix exchanges.

The global market capitalization of the cryptocurrency is currently at $ 2.11 trillion and the dominance index of Bitcoin is 41.7%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and trade move involves risk, you will need to do your own research when making a decision.

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